Major Natural Disasters Cost U.S. $165 Billion Last Year—Here Are The Priciest Weather Events

Topline

Large-scale weather and climate disasters totaling at least $1 billion in losses cost the U.S. an estimated $165 billion in 2022, according to data released Tuesday by the National Oceanic and Atmospheric Administration, making it the third-most costly year ever recorded by the agency.

Major natural disasters cost the U.S. $165 billion in 2022.

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Key Facts

Hurricane Ian was last year’s most expensive event, totaling an estimated $112.9 billion in losses after the hurricane tore across Florida and the Southeast between September 28 and 30, according to the NOAA’s National Centers for Environmental Information, making the category four storm the third-most expensive since 1980, trailing Hurricane Katrina ($190 billion) and Hurricane Harvey ($151.3 billion).

A heat wave and subsequent drought that hit the Western and Central U.S. was the second-most expensive, totaling $22.2 billion in losses.

A derecho—a straight-lined wind storm that can cause hurricane-like winds and heavy rains—recorded in the Central U.S. was third-most expensive at $3.2 billion, followed by wildfires in the Western U.S. that totaled $3.1 billion in losses.

The remaining total in damages includes estimates from Hurricane Nicole ($1 billion) and Hurricane Fiona ($2.5 billion) in addition to tornadoes and other severe storms, of which 10 of the most expensive accounted for $18.6 billion.

Big Number

$2.475 trillion. That’s how much 341 natural disasters totaling at least $1 billion in losses have cost the U.S. since 1980, according to the NOAA.

Surprising Fact

Last year trailed 2017 ($373.2 billion) and 2005 ($253.5 billion) in total damages wrought by billion-dollar weather events. Costs from major storms have continued to rise through the years, as an average of $144.9 billion in annual losses has been recorded over the previous three years, compared to an average of $93.6 billion in the 2010s, $58.7 billion in the 2000s, $31.4 billion in the 1990s and $20.5 billion in the 1980s.

Key Background

Scientists from the European Union’s climate change service announced Tuesday that the previous eight years are among the eight hottest on record globally. Because of rising temperatures and climate change, the U.S. Geological Survey says the possibility of more droughts and increasingly more intense storms will occur. NASA noted in a 2005 report that environmental changes brought on by global warming could exacerbate weather events, resulting in more deaths and damaged property.

Tangent

NOAA’s estimates for storm damage are based on federal data on damaged buildings, vehicles and assets. The agency says it is conservative in its estimates, though it does not directly attribute specific severe weather events to climate change.